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China: Equipment, high-tech manufacturing fuels China's industrial growth in first three quarters
Storyline: China's industrial sector showed robust recovery in the first three quarters of this year, with profits in equipment and high-tech manufacturing leading the upturn, according to data released by the National Bureau of Statistics. Nationwide from January to September, industrial enterprises above the designated size -- those with revenue from principal activities over 20 million yuan (about 2.8 million U.S. dollars) -- reported total profits of 5.37 trillion yuan, up 3.2 percent year on year and 2.3 percentage points higher than that in the first eight months of this year. Equipment manufacturing played a pivotal role in this recovery. Profits in the sector surged 9.4 percent year on year during the period, outpacing the overall industrial average by 6.2 percentage points. High-tech manufacturing also delivered strong performance, with profits rising 8.7 percent year on year in the first nine months, 2.7 percentage points higher than the January-August period. The momentum accelerated sharply in September alone, when high-tech manufacturing profits jumped by 26.8 percent, contributing 6.1 percentage points to the overall industrial profit growth for the month. Key drivers included rapid expansion in the aerospace industry, where profits from aerospace vehicle and equipment manufacturing grew 11.3 percent. As China continued to advance innovation in intelligent and automated technologies, sectors such as smart consumer device manufacturing, electronic component production, and specialized electronic industrial equipment saw significant profit increases. According to economists, the recovery has been fueled by an array of supportive measures from the Chinese government. "As the effects of various macroeconomic policies continue to materialize, consumer potential is being steadily unleashed, and the transformation of manufacturing toward higher-end, smarter, and greener models is steadily advancing. These factors are continuously accumulating and strengthening new drivers of growth, creating more favorable conditions for the recovery of industrial enterprises' profits. China's industrial economy is expected to maintain stable growth throughout the year," said Chen Xi, associate research fellow at the Academy of Macroeconomic Research under the National Development and Reform Commission, China's top economic planner. Shotlist: FILE: China - Date Unknown: 1. Various of interior of workshop; robotic arms in operation 2. Various of automobile production line 3. Shield tunneling machines under production 4. Various of robotic arms in operation, workers on agricultural machinery production line, vehicle under production 5. Various of high-tech production line, workers, researchers Beijing, China - Recent: 6. SOUNDBITE (Chinese) Chen Xi, associate research fellow, Academy of Macroeconomic Research, National Development and Reform Commission (starting with shot 5/ending with shots 7-8): "As the effects of various macroeconomic policies continue to materialize, consumer potential is being steadily unleashed, and the transformation of manufacturing toward higher-end, smarter, and greener models is steadily advancing. These factors are continuously accumulating and strengthening new drivers of growth, creating more favorable conditions for the recovery of industrial enterprises' profits. China's industrial economy is expected to maintain stable growth throughout the year." FILE: China - Date Unknown: 7. Various of high-tech production line, workers 8. Various of large equipment under production, workers, plane under assembly 9. Various of customers in home appliance store 10. Various of robotic arms, high-tech machines in operation; workers. [Restrictions : No access Chinese mainland]
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